MANILA -- The Philippine economy grew by 4.3% year on year in the second quarter, but the pace decelerated for a third straight quarter amid slow government spending.
The expansion in April to June was lower than both the 7.5% logged in the same quarter last year and the 6.4% in the first quarter, the Philippine Statistics Authority announced Thursday. On a quarterly basis, GDP contracted by 0.9% after growing by 1.1% from January to March, with all supply-side sectors in the negative.
